Flipping Houses: The 8 Phases of Flipping
December 16, 2014
It seems like every time I turn on the television, there’s discussions on cable news. Discussions about how flipping houses is a great way to make quick profits. It’d take me an hour to list all of those reality “flipping houses” shows! Well, they’re right, “flipping” houses is becoming more and more popular as the market improves. Flip deals are readily available which makes for an ideal environment for investors desiring to fix and flip houses. Therefore, this may have something to do with the current television frenzy.
Flipping properties will never be easy. It takes a lot of hard work, on-going education and dedication to flip houses and turn a profit. Unlike many of those TV shows and news reports, house flipping, although seemingly simple and cliché, is not as simple as it seems! However, we’re going to do our best to simplify our processes and enable you to learn our secrets to flipping.
We’re extremely excited to announce our newest project. The 8 Phases of Flipping! Over the course of the next several months, my team and I will be posting an on-going series that details our 8-phase process to flipping for 6 different Atlanta properties. Want to know the best part? It’s FREE! I am a strong believer in “teaching people to fish” rather than merely “giving them a fish”. Additionally, we are going to provide all cost numbers and even all of the Home Depot SKU’s that we used!
This series will show you the 8 different phases to a flip for several of our Atlanta investment properties. You’ll have an opportunity to subscribe to our on-going blog series so that every time a new phase is completed for a specific flip, you’ll receive an email notification. This will allow you to witness the evolving transition from beginning to end. In order to illustrate the steps needed to flip houses, I’ve put together the following checklist for each of the eight phases – which simplifies what is in reality can become a very complicated process. I want to remove some of those complications!
The 8 Phases of Flipping:
1. Project overview – basic info, size, location, numbers, how found property, budget, blue prints, permits, surveys
2. Demo – cost, number of dumpsters, time start to finish, crew size, landscape clean-up
3. Rough construction – framing, electrical, HVAC, plumbing
4. Exterior – window, siding, roof, decks/porches
5. Interior – drywall, trim, doors, flooring, paint
6. Kitchen– layout, cabinetry, countertops, backsplash, appliances
7. Bathroom – vanity, countertops, fixtures, tile, floor, shower, accent
8. Finished product – landscape, punch list, cleaning, branding, staging
Are you as excited as I am?! To take part in this on-going educational series, please insert your email address on the right side of this page and click “subscribe” in order to subscribe to our blog!
